Technology and government regulation are set to be the two biggest factors affecting the gambling and online casino market in 2024.
Whether you are a beginner or an experienced online gamer it’s important to keep abreast of the trends that are shaping the industry. Knowing the latest developments will help to keep your betting strategy competitive.
Don’t get left behind. Keep up to date by reading this article about the trends that are shaping gambling and casinos.
1. Online Casino
Accelerated by the COVID pandemic, the online gambling and casino industry is continuing to take advantage of the drastic increase in online activity. The biggest trend here is the proliferation of mobile apps. Smartphones have achieved incredible penetration around the world and are rapidly becoming the internet interface of choice for most people.
It has now become easier and cheaper to open an online casino than it is to open a land-based one. This has led to a surge in the number of companies operating online gambling sites. A great benefit of this to gamers is that there is constructive competition between operators to attract and retain customers. This forces operators to continually improve their customer engagement and streamline their user interface.
2. Cryptocurrencies
Security, especially of money is always a concern. Online users also want convenient and fast money services. Crypto provides increased security to all money transactions and allows for transactions to be processed much faster than traditional payment methods.
The anonymity offered by cryptocurrency is another big draw factor for gamblers pushing crypto payment methods’ integration throughout the industry.
Regulations are also affecting the market and we’ll look at this in more detail below.
The benefits that crypto offers are driving the trend that will likely see cryptocurrencies become the preferred method for handling money online.
3. Regulation
Surging interest in online gambling and the amount of money in play is causing governments around the world to reconsider their stance toward online casinos and gambling. Add to this the rapidly changing regulations around cryptocurrencies, as governments scramble to stake their claim in this $1 trillion market.
Loosening regulations around gambling and online casinos is helping to drive their growth. The rapid adoption of new crypto frameworks and laws is defining their place and stirring up the industry. It’s important to keep an eye on these developments because changes are happening that will probably have a significant impact on where and how you gamble online.
4. Live Dealers
The availability of live dealers through digital channels has shown to be a winning concept. Users want the convenience of online access but also want personal interaction with a person. Live dealers provide the best of both of these worlds in one slick package. Being such an important part of the customer experience for casinos, life dealers are likely to spread across almost all online platforms.
The only thing we can think of that would be better than a live dealer is functional VR which will make it a truly immersive experience.
5. Slots Innovation
The continued integration of technology combined with the growing popularity of gamified activities is pushing casinos to innovate.
Jumping on the trend that games that require an element of skill provide better engagement and entertainment to customers, top-rated casinos like Lotus Asia are continually upgrading and adding to their slots to provide a better experience that will keep their players coming back for more.
6. AI
Considered by many to be the next big thing in technology, AI has the potential to cause waves throughout the gambling market.
AI is been used to improve security by being better able to catch fraudulent activity and monitor suspicious activities.
Customers will also reap the rewards. AI is been used to provide an optimal personalized experience with seamless implementation that will enhance enjoyment and security.
7. Stream Betting
Technology has enabled the emergence of new types of betting that weren’t possible before. One of these exciting developments is stream betting. Live betting has only become feasible with improved computer processing time and ability.
Stream betting also called live betting, allows the action to take place after an event has started. This allows fans to watch their favorite event live and place bets at the same time, now that’s convenient.
Stream betting has also given rise to new types of bets. With live speed interaction, bettors can now place bets on the outcome of very short-term events, such as if a penalty will be successful or if a particular possession will result in a score.
8. eSports
Our massive enthusiasm for games is propelling the explosive growth of gambling on eSports. This enthusiasm is taking eSports mainstream and driving one of the most rapidly growing markets around.
Live-streamed tournament events attract millions of viewers from around the globe. This $1 billion market has drawn the attention of casinos as both a revenue stream and an engagement with customers.
Capitalizing on this popularity, casinos are quickly expanding their offerings to include betting on eSports. The types of bets available for eSports encompass traditional bets and all the emerging bet trends such as live betting. With so many gamers and fans, it’s easy to see why eSports are having such an impact on gambling.
Tapping into this huge market will have profound effects on the gambling industry and potentially draw more people to the joys of online casinos.
9. Interactive Gaming
The interactive experience that is available through online casinos is been brought to brick-and-mortar casinos. Harnessing online gambling’s adaptability and combining this with the social interaction of the live casino is giving brick-and-mortar casinos an edge.
This combination is giving customers the personalized and reactive experience that they could previously only get online. Enabled through kiosks and touch-enabled tablets, interactive gaming innovations are improving the gaming experience and providing an edge over their competition.
In Conclusion
The gaming and casino industry is changing in many exciting ways with the emergence and development of the above trends. Technology will continue to be one of the biggest drivers of change. Many of these trends got accelerated development during the VOVID pandemic and market leaders are continuing to take advantage of this growth spurt.
It’s not only companies that are benefitting. Many of the trends emphasize customer engagement and user-friendliness.
